Work to create Chinese-Belarusian Industrial Park to be intensified

The work to create the Chinese-Belarusian Industrial Park will be ramped up, Belarusian Prime Minister Mikhail Myasnikovich said in an interview with China Daily in Beijing, BelTA has learnt.

The head of government noted that top on the agenda of his visit to China (19-23 January) was the progress in setting up the Chinese-Belarusian Industrial Park. Mikhail Myasnikovich was satisfied with the results of the talks. “Instructions were given to speed up the work on the part of the Chinese companies,” he said.

The Premier emphasized that Belarus offers unprecedented tax benefits for resident companies of the park – the so-called 10+10 scheme. The scheme provides that during the first ten years resident companies of the Chinese-Belarusian Industrial Park will be exempt from taxes. In the subsequent ten years they will have to pay only half of the taxes. “This will create very comfortable conditions for businesses operating in the park,” the Belarusian head of government said.

When asked when the park will be operational, Mikhail Myasnikovich said: “There is no task to deliver it by a particular date. It is an evolutionary process”.

The Premier emphasized: “Together with our Chinese partners we seek to minimize the costs in order to reduce the burden on the park’s resident companies”.